Why Amazon Was Outpacing the Market Today

Thursday's bear market was ugly, with many stocks dropping notably. Amazon (NASDAQ: AMZN), however, wasn't one of them. Its shares were trading up by over 1% in contrast to a declining S&P 500 index; a new video-streaming content deal appears to be a key reason.

Amazon's deal is with Comcast's (NASDAQ: CMCSA) Hollywood heavyweight Universal. Under the terms of the multiyear arrangement, Amazon Prime Video -- the company's streaming service -- will offer recent live-action Universal movie releases after their premieres on Peacock (Comcast's own streamer).

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Source Fool.com